v3.25.3
Leases
9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Leases Leases
The Company leases office space under non-cancellable operating leases for its corporate headquarters in Austin, Texas, in two adjacent buildings under separate lease agreements. Pursuant to the first agreement, the Company leases office space with an initial term that expires on April 30, 2028, with the option to extend the lease for an additional ten-year term. The Company is not reasonably certain to exercise the renewal under this agreement, therefore no amount related to this option is recognized as part of lease liabilities or right of use assets. Pursuant to the second agreement, the Company leases office space with lease terms of approximately ten years, with an option to extend the lease on the second building from five to ten years. The Company also leases office space in other U.S. cities located in Nebraska, Iowa and North Carolina. Internationally, the Company leases offices in India and Australia, and from time to time, employees may work from flexible office spaces in the U.S. and internationally.
During the nine months ended September 30, 2025, the Company recorded $4.0 million in lease liabilities related to the renewals and expansions of our office lease agreements. The Company recognized corresponding right of use assets of $3.3 million, net of $0.7 million in tenant lease improvement allowances. As of September 30, 2025, the Company has received no reimbursements for this allowance, and has a remaining allowance receivable of $0.7 million included as a component of prepaid expenses and other current assets on the Company's condensed consolidated balance sheets. The Company believes its current facilities are adequate to meet its current needs and that suitable additional or alternative space will be available on commercially reasonable terms as needed to support future growth.
Maturities of the Company's operating lease liabilities for lease terms in excess of one year at September 30, 2025 were as follows:
Operating Leases
Year Ended December 31,
2025 (October 1 to December 31)
$3,001 
202610,795 
20279,684 
20286,468 
20294,947 
Thereafter18,522 
Total lease payments53,417 
Less: imputed interest(8,266)
Total operating lease liabilities$45,151 
The operating lease liabilities include $11.3 million in optional lease renewals where the Company is reasonably certain of exercising those options.
The Company has exited and made available for sublease certain leased office spaces, and updated assessments of previously exited leased office spaces. As a result, the Company evaluated the recoverability of its right of use and other lease related assets and determined that their carrying values were not fully recoverable. The Company calculated the impairment by comparing the carrying amount of the asset group to its estimated fair value using a discounted cash flow model. During the three and nine months ended September 30, 2025, impairment charges of $0.5 million were recorded to right of use assets. These charges were recorded within operating expenses on the condensed consolidated statements of comprehensive loss.